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Life in the slow lane


By WW
July 15 2017

Yorkshire Carnegie plays in the second tier of English rugby. A number of factors recently have led supporters to believe that this is the club's rightful place and that the fast lane (Premiership) will remain out of our reach for the foreseeable future.

For the last 5 years the club that got promoted from the championship went through the lottery that was the play-offs. This meant that all clubs had to adapt to the fact that you could win the league at a canter but still not get promoted. Bristol managed this feat on several occasions before finally winning the play-offs last year. Bris have had a torrid time in their first season back in the top flight. They got relegated at the first attempt but enter next season's championship knowing that first past the post is their target for getting back into the top flight. To be fair to the Bris fans they never liked the play-off system. The fact that they come down with a hefty parachute payment should ensure that the club returns to the premiership at the first attempt.

The second factor in the Carnegie conumdrum is the end of the sponsorship by the local university which, for the last 10 years, is believed to have been worth £1m each season. This money has helped plaster over the cracks in the club's business plan. Without it we lose the ability to finance a big squad. A smaller squad with lower wages beckons. Anyone wanting to move to a club that pays well will have to look elsewhere.

From September the rugby pitch will be in the middle of a building site whilst the N & S stands are redeveloped. I can see advantages in having all the fans in one stand but it will have a detremental effect on the atmosphere particularly when the game is being played at the western terrace end.

I am not sure what the J-Lo  effect will be this season. Last time he led the side we played some great rugby. That was with a squad that he inherited. Will he do the same with our dimished resources? The jury is out on that one.

It can be argued that we have low expectations and hence the squad is likely to exceed them. That is true. If we play open, running rugby and do not get thrashed too often then most people will be happy with that. Will we get promotion? I doubt that. As things stand we will be lucky to be within 15 points of Bristol by Christmas. I think that the championship is now our home and we should get used to it.

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Life in the slow lane
TykesRugby.co.uk (IP Logged)
15/07/2017 17:05
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MESSAGES->author
Re: Life in the slow lane
Mark_C (IP Logged)
15/07/2017 22:38
Good call - the academy has proved to be amongst the best in the land and the club should be rightly proud of it's products and the nurturing they gave to them.

As for one million pounds a year for ten years, that is small beer compared to the five million pounds trousered by somebody after one transaction.

 
Bobba
Re: Life in the slow lane
Bobba (IP Logged)
16/07/2017 13:26
Talking of money, I was just wondering if the Company that is going to rebuild the stadium will be doing so on a non-profit basis? ......Hmmm, then again, when I think about it, I must, at some time, been told a porky. Pigs don't fly do they?... Then again....

 
MESSAGES->author
Re: Life in the slow lane
Albert Fishwick (IP Logged)
16/07/2017 14:05
It would be odd for any building firm wishing to stay in business not to seek to make a profit on each job.

If I had all the money I've spent on drink ..... I'd spend it on drink.

 
MESSAGES->author
Re: Life in the slow lane
almostatyke (IP Logged)
16/07/2017 17:51
As I understand it, the Rhinos and the rugby bit of Carnegie (sorry Emerald) Headingley is a fully-owned part of Caddick Construction, thus the profit (or loss) in the construction contract is largely a matter of a robbing Peter to pay Paul affair. However, no doubt Yorkshire cricket will be keeping a close eye to ensure there is no cross-fertilisation of costs in their direction.

 
headingleytyke
Re: Life in the slow lane
headingleytyke (IP Logged)
16/07/2017 20:28
I am sad to say, what with the money politics, inter club rival the fun has gone out of the game. Am back in the country four times over the winter. Will go and watch Coventry. Still support Leeds Tykes from afar

 
MESSAGES->author
Re: Life in the slow lane
Albert Fishwick (IP Logged)
16/07/2017 22:35
Quote:
almostatyke
As I understand it, the Rhinos and the rugby bit of Carnegie (sorry Emerald) Headingley is a fully-owned part of Caddick Construction, thus the profit (or loss) in the construction contract is largely a matter of a robbing Peter to pay Paul affair. However, no doubt Yorkshire cricket will be keeping a close eye to ensure there is no cross-fertilisation of costs in their direction.

I fear your understanding is a bit awry. Caddick Construction is a subsidiary of the Caddick holding company, as is Leeds Rugby Limited, which owns Leeds CF&AC Ltd (aka Leeds Rhinos). Whilst PC started out in construction, his main interest for many years has been in property development and it is this which has generated the bulk of his wealth. Caddick Construction has its own board who are responsible for its performance.

HMRC look very closely at the allocation of profits between companies under common ownership and mates rates for such contracts would be unlikely to pass muster.

If I had all the money I've spent on drink ..... I'd spend it on drink.

 
MESSAGES->author
Re: Life in the slow lane
almostatyke (IP Logged)
20/07/2017 20:45
Here's a good one for a Cambridge-educated accountant like you to suss out, Albert:

[www.constructionenquirer.com]

And after that, you can advise IR that Starbucks actually make more than the 2p profit in the UK that they have declared.

Only joking. But seriously, the Quantity Surveyors of a Contractor are specially trained in the Smoke and Mirrors department, and I do not think the IR frightens them!

 
MESSAGES->author
Re: Life in the slow lane
Albert Fishwick (IP Logged)
21/07/2017 11:28
Relieving taxable profits with losses incurred in other companies under common ownership has long been allowed. Not making much taxable profit by manipulating earnings across different entities and/or territories is closely targetted by tax authorities here and overseas, but that doesn't stop it happening.

Anyway, I'm off to watch some paint dry.

If I had all the money I've spent on drink ..... I'd spend it on drink.

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